Bally Bet Expands Operations to Tennessee as 10th U.S. Market

Bally’s Interactive, the digital branch of Bally’s Corporation, has launched its Bally Bet sportsbook app in Tennessee, expanding its sports betting operations to the 10th U.S. state. The launch is part of Bally’s ongoing efforts to expand its reach across the country, with plans to enter more markets by the end of 2024. Tennessee sports fans can now enjoy a wide array of betting options, including the new Parlay Zone feature, and access enhanced customization options through the Bally Bet platform.

Strategic Partnership with the Nashville Predators

As part of its NHL season, with further in-arena and social media activations planned to engage bettors and sports fans alike.

Bally Bet’s new Parlay Zone allows s to create custom parlays across a wide selection of sporting events, giving bettors more flexibility and control over their wagers. Additionally, the platform includes the Picks tab, powered by Wager Games, which offers expert insights through video content and curated parlays. This added functionality enhances the overall betting experience, making the app a compelling option for both seasoned and new bettors in Tennessee.

Recent Expansions and Future Growth Plans

The launch in Tennessee follows Maryland earlier this year. In Maryland, the company was awarded a mobile sports betting license after ing a controlled demonstration phase monitored by the Maryland Lottery and Gaming Control Commission. This careful regulatory process ensured that Bally Bet met all required standards before accepting wagers from Maryland bettors. Similarly, Bally Bet began operations in Massachusetts after securing a Category 3 license from the state’s Gaming Commission, alongside a $200,000 application fee and necessary licensing requirements.

Bally’s CEO, Robeson Reeves, noted during the company’s Q2 2024 earnings call that the sportsbook aims to further expand its presence across the United States. With plans to enter four additional markets by the end of the year, Bally Bet is eyeing potential launches in Illinois, New Jersey, and even Ontario, Canada. The company’s goal is to secure a foothold in key sports betting markets, as it continues to invest in growing its brand and platform.

Competitive Challenges in a Crowded Market

Despite its aggressive expansion strategy, Bally Bet faces stiff competition from well-established sports betting giants like FanDuel, New York, one of the largest sports betting markets in the U.S., Bally Bet has struggled to capture significant market share. The operator achieved its highest handle of $10.7 million in New York in September 2024, but that only ed for 0.5% of the total $2.07 billion wagered in the state that month.

Tennessee presents a similar challenge. The state’s sports betting market has seen rapid growth, with a record $520.8 million in wagers placed in September 2024. However, Bally Bet enters this competitive environment as the 13th operator, vying for attention in a crowded field. To differentiate itself, Bally Bet is banking on its Parlay Zone and Picks tab features, which provide s with a more personalized betting experience than many of its rivals.

Looking Ahead

Bally’s re-launch of its sportsbook in several states follows a significant platform overhaul earlier this year, which included a switch to Kambi as its odds provider. This change has resulted in improved performance across multiple states, but the operator still faces the challenge of carving out a larger market share in a highly competitive industry. Bally Bet’s entrance into Tennessee signals a continued push for growth, but the company will need to rely on its unique features and strategic partnerships to stand out in an increasingly crowded market.

Source:

“Tennessee Bally Bet Launches as New Operator“, sbcamericas.com, October 17, 2024.